Finding Text
Criteria - The School's annual filing with the Federal Audit Clearinghouse ("FAC") for fiscal year ended September 30, 2024 was due no later than June 30, 2025.
Condition - The required annual filing with FAC was not made by the required deadline of June 30, 2025.
Cause - Delay in the engagement of an independent auditor to begin the single audit.
Effect - A delay in the audit for fiscal year ended September 30, 2024 resulted in the FAC deadline being missed. Untimely filing hinders the timely administration and assessment of results by grantor officials.
Recommendation - We recommend that the School should implement formal internal control policies and procedures to rectify the conditions noted above.
Management response - See corrective action plan provided by the Head of School.